Palantir Stock's 3-Year Safety Net Just Snapped: The $150 Line Bulls Must Defend

Palantir Technologies Inc (NASDAQ:PLTR) is heading into fourth quarter earnings with its chart flashing something it hasn't in nearly three years: structural risk.

After a near-100% rally over the past year, PLTR is now testing the line that has defined its bull market since 2023—the 200-day moving average. And for the first time since May 2023, that safety net just cracked.

Chart created using Benzinga Pro

The 200-Day Breakdown Changes The Game

Palantir’s stock closed at $157.35 Wednesday, slipping below its 200-day moving average (~$158.7). This marks the first meaningful long-term trend break in almost two years and the first test of this level since August 2024.

Momentum has already rolled over. The stock is now below its eight-day, 20-day, and 50-day simple moving averages, while the MACD moving average convergence/divergence) indicator is deeply negative—confirming downside momentum is accelerating rather than stabilizing.

RSI Capitulation Signals Trend Stress

The daily RSI (relative strength index) collapsed to ~31.7, the lowest reading since April 2024. That's not just oversold—it's the kind of RSI behavior that often shows up during trend transitions, not routine pullbacks.

In bull markets, RSI rarely stays below 35 for long. When it does, something bigger is usually happening under the surface.

The $150 Line: Head-and-Shoulders Trigger

The head-and-shoulders pattern remains intact, with the neckline sitting near $150. A decisive break below that level would confirm the pattern and open the door to a deeper technical unwind.

In other words, $150 isn't just support—it's the trigger level.

Earnings As The Catalyst

Palantir reports fourth quarter earnings in four days, and the timing couldn't be more critical. Bulls need an immediate reclaim of the 200-day and a push back above $165–$170 to neutralize the breakdown. Failure to do so could invite systematic selling into weakness.

PLTR is no longer in a clean momentum uptrend. The 200-day just cracked, $150 is the cliff edge, and earnings is the catalyst. This is the biggest technical test since 2023—and the chart is demanding answers.

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